Circle K

8890 East Shea Boulevard, Scottsdale, AZ 85260

$4,000,000

Cap Rate 5.37%

$4,300,000

Cap Rate 5.00%

Views: 126 DOM: 53 Updated: 01.29.24 Posted: 10.18.23 Status: Sold 12.10.23

Summary

Price $4,000,000 $4,300,000	Built/Renov 1996	Tenant Circle K
Cap Rate 5.37% 5.00%	Lease Type Abs NNN	Guarantor Corp T and Rated
Size/SF 2,080	Lease Start 09-22-2008	#Units 14,332
Price/SF $1,923.08 $2,067.31	Expiration 09-22-2025	Tenant Type Convenience/Gas
NOI $214,884	R. Term 0.8	Ownership Fee Simple
Rent/SF $103.31	Increases 5.0%/3/yrs	Pop 5Mi 151,582
Lot/AC 1.30	Options 7/3yrs/5%	AHHI 5Mi $166,267

Lease Highlights

Circle K has been operating in this location since 2008
Tenant has over 1 year remaining on the current lease term with 1 (3-year), 4 (5-year) and 2 (10-year) options to extend
Lease features a 5% rental increase every 5 years throughout the initial term and at the start of each option
Absolute NNN | Zero landlord responsibilities
Corporate guarantee by Alimentation Couche-Tard (TSE: ATD)

Location Description

Circle K is prominently situated on E. Shea Blvd. which sees approximately 48,500 vehicles passing by daily. It is also within close proximity to Arizona State Route 101 which boasts over 192,800 vehicles per day. The site benefits from being surrounded by many national tenants including Barnes and Noble, The Home Depot, Marshalls, DSW, Big Lots and more, creating a strong consumer draw to the...

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Key Features

In location for years
Dense retail corridor
Near major nationals
Highway close
Top 100 MSA
Strong demographics
Long operation history
Accelerated depreciation
Traded and rated company
Investment grade tenant

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Links

Circle K Wikipedia Circle K Wikipedia Scottsdale, Arizona Zip Code 85260 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Circle K
Guarantor:Corp T and Rated
Company:Alimentation Couche-Tard
# Units:14,332
Tenant S&P: BBB
Moody’s: Baa2
Stock: TSE: ATD

About Tenant

Circle K Stores, Inc. is an international chain of convenience stores, and the largest independent convenience store operator in the U.S. in terms of the number of company-operated stores. Founded...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	9,609	71,338	155,681
2023 Total Population :	9,721	69,959	151,650
2023 Employed Civilian Pop :	5,199	37,138	81,053
2023 Total Businesses :	1,053	6,467	12,245
2023 Average Household Income :	$ 138,737	$ 160,282	$ 171,859
2023 Total Consumer Spending :	$ 579 M	$ 4416 M	$ 9984 M
2023 Median Age :	55	52	50
2023 Total Households :	4,897	32,560	68,863
2023 Pop Age 25+: Bachelor's Degree :	2,938	19,835	42,604
2023 Average Home Value :	$ 600,754	$ 668,527	$ 712,370

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
E Shea Blvd	N Scottsdale Fiesta	2014	61,400	0.04 mi
	E Shea Blvd	2021	22,813	0.08 mi
	E Shea Blvd	2021	15,498	0.11 mi
Pima Fwy	E Shea Blvd	2018	45,041	0.11 mi
	E Shea Blvd	2021	20,066	0.13 mi
Pima Fwy	E Shea Blvd	2015	17,878	0.14 mi
	E Shea Blvd	2021	13,376	0.14 mi
Pima Freeway	E Cactus Rd	2021	165,624	0.17 mi
N 90th St	E Shea Blvd	2010	8,318	0.19 mi
N 90th St	E Scottsdale Healthcare Shea	2010	15,562	0.20 mi

Listing Broker

Aron Cline

Berkeley Capital Advisors

Contact

177 Listings
31750 Views
21 Sold

Calvin Short

Berkeley Capital Advisors

Contact

187 Listings
32951 Views
23 Sold

Aron Cline

Specializing in Single Tenant Net Lease and Shopping Centers, Aron Cline leads Berkeley Capital Advisors’ West Coast Office. Since 2011, Aron has been actively engaged in the commercial real estate space. Over the last decade, he and his team have been regarded as one of the most active brokerage teams in the country - having brokered over 1,300 transactions totaling $3.5 billion. His dedication and success have earned him the trust of some of the country’s top institutions, developers, high ne

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Calvin Short

Calvin Short joined Berkeley Capital Advisors in 2021 and leads the West Coast capital markets group. Since joining Berkeley, Calvin has been a part of closing 1,400 separate transactions with $4 billion in sales volume. Prior to Berkeley, Calvin served as Senior Vice President at Matthews REIS where he was consistently ranked within Matthews’ top five producing agents. In 2012, he graduated from The University of San Diego with a B.A. in Real Estate Finance. Calvin has spent the past 10 years

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